Friday, February 17, 2012

Death and Taxes

Bill

I accept the premise that taxes can be useful instrument of public policy. And I am certainly pro growth, although I am much less certain than you that economic growth by itself produces that much happiness. The problem comes in agreeing on what those policies are. While we both believe that the health insurance exemption does not qualify, I am less sure about the home mortgage interest deduction, given the pivotal role that housing plays in the economy. What I don’t like about it is its regressive nature. Folks with enough dough to buy a home get the benefit. Renters get nothing.

Simpler and fairer would clearly be in the eye of the beholder. Given the way Washington works, its hard to imagine that we could have such a national conversation. Still I’d like to see it happen no matter who takes the oath of office next January.